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Throughout the world, nuclear power has made us less dependent on oil and fuel."America's 103 nuclear power plants provide 20 percent of our electricity in a manner that produces no harmful air pollution." (2) Energy shortages hare becoming a bigger problem all around the country."There is enough available Uranium to run the current nuclear power plants for well over 100 years, and other types of nuclear fuel to use well beyond that." (3) On the other hand, there are also many downfalls to using nuclear power.
As good as this method may sound, the process can take up to 20,000 years.
This means that the waste storage facilities will have to be secured from robbers, terrorists, and the effects of nature for a period of time in which not only their designers will die, but possibly the countries in which they are located in could crumble.
Tim Worstall, one of our commenters, published a report for the Institute of Economic Affairs in which he argues that it won’t be banks and financial institutions that end up paying any Financial Transactions Tax.
The burden of the tax could be passed down to consumers of financial services – households, pension funds, etc.
At a time when national governments are heavily in debt, this is a very attractive prospect.
Even by the EU’s own estimates, the tax could potentially raise less money in revenues than is lost in terms of lowering of economic output.As of today, there is no real way to dispose of nuclear waste.While theories of ridding our earth of this harmful radioactive substance vary, the many attempts, have included everything from burying it, to sending it out of our orbit into space.The economies of European member-states (and, in particular, that of the United Kingdom) would suffer.Even a modest EU Financial Transactions Tax of around 0.1% on equity and 0.01% on derivatives could yield 55 billion euros annually."Nuclear plants are on the average only 75% to 80% reliable." (4) The cost to run the nuclear power plants is also rising, and that doesn't even include all the money the government is spending on research. The rise of nuclear power started back in 2000 with the election of George W.(1) The most evident argument for Pro Nuclear Power deals with economics.Nuclear power plants have saved billions of dollars.The most popular method to date seems to be “long term storage.” But what exactly does the “long term storage” mean?It means storing air tight barrels of nuclear waste in facilities until they lose their potency.